Consolidate Credit Cards: Consolidating Credit Card Debt With 0% APR

One of the best ways of getting rid of credit card debt is to consolidate credit cards. There are numerous tempting offers advertised by credit card suppliers inviting you to consolidate credit cards with them? However, when you consolidate credit cards, there are 3 features (in terms of APR) you must keep an eye out for.

The 3 key features you should take note of before you consolidate credit cards are: the introductory APR, the introductory APR time period and the standard APR.

Quick Tips to Help You Consolidate Credit Cards Without Getting More Into Debt:

Before consolidating credit card debt, you should generally look for a credit card supplier that offer 0% Introductory APR to consolidate credit cards with.

Look for credit card suppliers that offer a 6 - 9 month period on their introductory APR. The longer the length of the introductory APR period, the easier it will be for you to consolidate credit cards. If you consolidate credit cards with a 0% introductory APR, and a long APR period, you will be able to put a temporary halt to the growth rate of your credit card debt.

Do not fail to pay attention also to the standard APR when consolidating credit card debt. Always bear in mind that the introductory low APR period is the bait your credit card supplier used to get you to consolidate credit cards with them. So, irrespective of how luring the introductory APR offer is, make sure the Standard APR is moderate.

The standard APR is the interest rate to be applied to your balance once the introductory low APR period has expired. Only consolidate credit cards if the introductory period is long enough for you to get rid of credit card debt.

However, if the standard APR is too high but you believe that you will be able to erase credit card debt during the introductory APR period, then you could make compromises on the standard APR to consolidate credit cards.

You should only consolidate credit cards that are in sync with your current and future financial position